California's budget deficit has likely grown. Gov. Gavin Newsom will reveal his plan to address it

California Gov. Gavin Newsom is preparing to update his budget proposal. Newsom announced a nearly $38 billion budget deficit in January. The nonpartisan Legislative Analyst's Office said the deficit was actualy $58 billion if you include some reductions in public education spending. Since then, California's revenue has not improved. Newsom will announce his updated proposal on Friday. Collections from the state's three largest taxes were more than $6 billion below projections through the end of April. This means the deficit has likely grown. Last month, Newsom and lawmakers already agreed on some steps to make the deficit smaller by about $17 billion.